The Bank of Russia, together with the government, is preparing amendments to the Law on Personal Data, which will consolidate approaches to the processing of anonymized data. This is stated in the draft of the main directions of digitalization of the financial market for 2022-2024, published by the Central Bank on December 10.
The changes, which are being developed by the Central Bank, will introduce into the legislation the concept of “impersonal credit histories” and will allow banks to transfer them to third parties. In addition, it is planned to allow any organization to use such data for analytical purposes.
The document notes that there are still “a number of legal gaps” in the sphere of the circulation of anonymized personal data. So, in the current legislation the concept of anonymized data is not enshrined and the procedure for their processing is not provided. This also applies to the transfer of such data to third parties without the consent of the citizen.
Now the processing of anonymized personal data without the consent of the client is possible only for statistics or research. As indicated by the Central Bank, such a limitation does not allow using the accumulated data array for the development and implementation of new technologies and products.
The authors of the project believe that this will help any organization to use microdata without the risk of data leakage of individuals and companies for analytical purposes – for example, to develop marketing strategies or scoring models for assessing customers’ ability to pay.
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